Ascom gehts gut despite crisis By Hans Galli.
In previous years, an economic crisis like the present to the Ascom Group to the brink of disaster would have brought. But this time it’s different: The net profit has increased in the first half by as much as 4.8 million to 11.9 million francs.
The Group owes this to the timely initiated restructuring. The loss-making areas were sold in 2008. Left behind were the key strategic divisions. These specialize in telecommunications solutions for safety reasons, always have to work – for example in hospitals, the fire brigade or the military. This has two advantages: First, the small Ascom can compete in these niches at the top, and second, these markets are limited to cyclical. The army does not depend on the economic situation.
The Ascom Group is by no means been unscathed by the crisis: the half-year sales fell by 5.6 percent to 235 million francs. Included in that is a monthly turnover of the newly consolidated subsidiary of Swedish Tems. At unchanged exchange rates, consolidated sales would have stagnated: the negative impact has been the weaker euro.
The recession but has also left traces on the profit side, which is covered by special events. From ongoing operations of the Ascom has achieved in the previous year, namely a profit of 14.1 million francs. But a loss of 7 million francs from discontinued operations has been halved profits.
In addition came in the first half of 2009, half of the Group profit for the financial result. This was supplemented through the revaluation of hedging transactions and loans, and lower taxes, as said CEO Riet Cadonau told the media in Zurich.
Hope for better economic
Given the economic environment had the Ascom well in the current year. But their medium-term objectives, they could only be achieved if the economy is recovering, led Cadonau further.
That is the objective set a year ago: in 2010 an operating result (EBIT) of 10 percent of sales. In this regard, gabs in the first half of 2009, a setback: The EBIT margin fell from 6.7 percent to 3.1 percent.
Consolidated revenue without NeuWerbung must grow by 5 percent, so that the formula “10 percent EBIT subsumed in 2010″, said Cadonau. With an economic boom but was earliest in the course of next year to be expected. Thus, the turnover is expected to be lower in 2009 from the existing business up to 10 percent than last year. Inclusive of Tems but he is expected to rise. Tem provides testing for mobile networks.
Other major acquisitions in health care plans to Ascom. Preferred candidate: providing a firm offering alarm systems for seniors.
Strong growth in 2009
Shareholders have rewarded the progress made by Ascom: The share price has risen since the beginning of the year by about 60 percent to 13 francs. The title belongs to 2009 most of the winners. Yesterday gabs but a small setback.
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